The aim of this paper is to show that the ‘pure labour theory of value’, as price theory, does not hold even at zero rate of profits, unless a very strong and restrictive assumption is made, i.e., invariable methods of production used through time. It is maintained that the above assumption...

This book aims to show how Sraffa's theoretical contributions could be pursued in new directions, in effect providing an alternative paradigm to the postclassical economic theory and challenging the persistent dominance of a widespread economic culture based on that theory.